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Dec 27, 2012
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what does this mean for the fiscal cliff discussions? >> well, i don't think it really means a whole lot. i think it is -- sort of the white house's way, treasurer's way, of putting extra pressure on the people in the building behind us. by the way, none of them are there. i'm not sure that's really going to work, frankly. and -- i -- john, our colleague john harwood is exactly right. this is not a surprise. we knew this was coming. the question that it is, you know, three days -- thee business days, as you say before, the actual deadline itself, that's disconcerting. but -- again, it is not surprising. i don't think it has any -- will peak the negotiations at all, frankly. not at all. >> what about the secretary's use of this phrase -- the country would otherwise default on its legal obligations. i think he purposefully use this phrase default to confuse the public and -- during the last debt ceiling debate we had the same confusion as if the u.s. government would not pay interest on its debts. have -- you know perfectly well will is ab
what does this mean for the fiscal cliff discussions? >> well, i don't think it really means a whole lot. i think it is -- sort of the white house's way, treasurer's way, of putting extra pressure on the people in the building behind us. by the way, none of them are there. i'm not sure that's really going to work, frankly. and -- i -- john, our colleague john harwood is exactly right. this is not a surprise. we knew this was coming. the question that it is, you know, three days -- thee...
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Dec 26, 2012
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to avoid the fiscal cliff, but little progress has been made. >>> a chinese ratings agency is putting the u.s. on negative watch citing troubles with long-term debt issues. on a statement on its web site, global credit says each political party insists on the proposition favorable for its own interest. it expects u.s. debt to rise to 105% of gdp this year and warns the country will probably fall into recession in 2013 if there's no resolution to the fiscal cliff. last year, it cut u.s. treasuries from a to a-plus with a negative outlook. >>> and the holiday shopping season is drying to a close. early numbers suggest what started out strong is ending with a whimper. mastercard spending pulse unit estimates sales rose .7% over the past two months, which would be the weakest pace since 2008 during the financial crisis. many analysts had expected sales to rise 3% to 4%. several events may have, of course, pushed consumers to spend less this season including hurricane sandy and concerns about how tax hikes from the fiscal cliff could impact their wallets. joining us for more on the numbers
to avoid the fiscal cliff, but little progress has been made. >>> a chinese ratings agency is putting the u.s. on negative watch citing troubles with long-term debt issues. on a statement on its web site, global credit says each political party insists on the proposition favorable for its own interest. it expects u.s. debt to rise to 105% of gdp this year and warns the country will probably fall into recession in 2013 if there's no resolution to the fiscal cliff. last year, it cut u.s....
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Dec 27, 2012
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. >> in the meantime, you are looking live at house minority whip steny hoyer speaking about the fiscal cliff. he's saying that congress needs to get together for a compromise. we're going to monitor this situation and we'll let you know if he breaks any news. >>> in the meantime, 12 months ago, brian, you had a few predictions for this year so it is that time of year that we roll out that list and we do see how many of them came true. we're going to hold your feet to the fire, by the way. you're not getting away scott free on this one. >>> i can't wait. plus, a few retail surprises this season. which ones raked in the cash. which ones may have flopped? that is still ahead. >>> and also frequent flyers need to take stock of their status in the next couple of days. how to protect your purse for 2013 a little later on "street signs." stay right here on cnbc. >> announcer: the cnbc real time exchange market snapshot is sponsored by interactive brokers. >> announcer: interactive brokers, the professional's gate way to the world's markets. andm two things -- cook what you love, and save your
. >> in the meantime, you are looking live at house minority whip steny hoyer speaking about the fiscal cliff. he's saying that congress needs to get together for a compromise. we're going to monitor this situation and we'll let you know if he breaks any news. >>> in the meantime, 12 months ago, brian, you had a few predictions for this year so it is that time of year that we roll out that list and we do see how many of them came true. we're going to hold your feet to the fire,...
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Dec 27, 2012
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on the fiscal cliff. republicans have been resisting that by announcing the debt ceiling limit will be held on monday, ratchets up the pressure to include the debt ceiling piece in the final package, whatever that may be, but still not clear, carl, there is going to be a final package of any kind. one quick note, we saw the realism. pact in the real world of the debt situation. treasury announcing yesterday it has suspended the sale of state and local government securities, government series securities. so already, they are doing some maneuvering here financially to try to avoid that debtly limit. the treasury secretary says he doesn't know how much wiggle room they are going to have, given that all the fiscal cliff uncertainty is out there. >> eamon, on this idea that the house members get called back with 48 hours' notice. traders are looking for that headline if it happens almost that bleed out there or procedural moment where that is announced, so to speak? >> a good question. i have been in touch wit
on the fiscal cliff. republicans have been resisting that by announcing the debt ceiling limit will be held on monday, ratchets up the pressure to include the debt ceiling piece in the final package, whatever that may be, but still not clear, carl, there is going to be a final package of any kind. one quick note, we saw the realism. pact in the real world of the debt situation. treasury announcing yesterday it has suspended the sale of state and local government securities, government series...
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Dec 26, 2012
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. >> there's the looming fiscal cliff and session of the senate set for tomorrow. the house has nothing on its schedule for the week but members have been told they could be called back with 48 hours notice. meantime, president obama going to fly back from vacation in hawaii today. john joins us in washington. john, is this trip by the president more than just window dressing? is there a chance he's here to actually do something? >> first of all, merry christmas to everybody and happy holidays. i think this is not window dressing. there is a chance they will negotiate a deal, most like l l mini deal that will temporarily resolve the issue. there is a chance something will get done and the chairman of the budget committee is holding out hope to do that. he's come back because the president doesn't want to be out in hawaii vacationing while members of congress decide up or down on a deal. >> it will be left in the -- he left in the first place knowing he would have to come back. not like he didn't know this problem existed on sunday? >> right. but he wanted to celebr
. >> there's the looming fiscal cliff and session of the senate set for tomorrow. the house has nothing on its schedule for the week but members have been told they could be called back with 48 hours notice. meantime, president obama going to fly back from vacation in hawaii today. john joins us in washington. john, is this trip by the president more than just window dressing? is there a chance he's here to actually do something? >> first of all, merry christmas to everybody and...
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Dec 31, 2012
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regardless of what happens with the fiscal cliff, we'll see these periodic fights over the budget ceiling or the deficit ceiling and it's going to happen repeatedly and the house is going to hold this over the administration and the treasury department and so the more i look at it, the more i'm becoming concerned that this is just some kind of ongoing, ugly process that has no real end in sight. >> and we will leave it on that note. stay with us. coming after the break, we want to talk specifically about municipal debt which has been one of the areas that perhaps has been under cover but has seen an impact as the fiscal cliff approaches. congress may be able to avoid the starry cliff. they're set to temporarily extend the u.s. farm bill. the move would keep a long dormant milk subsidy from coming back to life when the current bill expires today. under a new law, the milk could be forced at prices well above what farmers are getting now if that subsidy was pushed aside. let's get a look at what's on the agenda this week in the u.s. there is no data out today and markets will put in a full
regardless of what happens with the fiscal cliff, we'll see these periodic fights over the budget ceiling or the deficit ceiling and it's going to happen repeatedly and the house is going to hold this over the administration and the treasury department and so the more i look at it, the more i'm becoming concerned that this is just some kind of ongoing, ugly process that has no real end in sight. >> and we will leave it on that note. stay with us. coming after the break, we want to talk...